The global market contracted by 5 percent in value terms in 2015 whereas the market had shown a growth of 7 percent in 2014. The previous year’s main drivers in the increase in the Asian Pacific region were also key in the drop of the total world market in 2015.
The biggest packaged air conditioning (PAC) market is Asia Pacific, accounting for 61 percent of the world market by volume; it declined by 5 percent. The four largest markets — China, Japan, Indonesia, and South Korea — all contracted and contributed to the downward trend.